Prospect Of L’Oreal Share Buyback Excites Investors

Sanofi SA has the cash to buy back about $12 billion worth of shares in its company that are currently owned by French beauty firm L’Oreal, if those shares were up for sale, Sanofi CEO Viehbacher says during Sept. 13 conference. L’Oreal CEO Agon suggested in recent earnings call that his firm could seek cash for future deals through the sale of its 9% stake in Sanofi.